REGISTERED NUMBER: SC734927 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Loch Fergus Solar Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

1,114,716

654,884

Investment property

5

296,905

296,905

1,411,621

951,789

CURRENT ASSETS

Debtors

6

64,724

57,604

Cash at bank

13,117

3,860

77,841

61,464

CREDITORS

Amounts falling due within one year

7

(1,486,471

)

(1,015,095

)

NET CURRENT LIABILITIES

(1,408,630

)

(953,631

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,991

(1,842

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,990

(1,843

)

2,991

(1,842

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Mr A W Lyle - Director

1.	STATUTORY INFORMATION

Loch Fergus Solar Ltd is a private limited company, limited by shares, domiciled in Scotland, registration

number SC734927. The registered office is C/O Locogen Limited, 4, West Silvermills Lane, Edinburgh, Midlothian, Scotland, EH3 5BD.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Intangible assets

Costs incurred in respect of the development phase of a project are recognised as an intangible asset, when certain specific criteria are met in order to demonstrate that the asset will generate probable future economic benefits and that its cost can be reliably measured. Once the project is in construction phase, the development costs are transferred to tangible assets. Assets in the course of development are not amortised.

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

654,884

Additions

459,832

At 31 December 2024

1,114,716

NET BOOK VALUE

At 31 December 2024

1,114,716

At 31 December 2023

654,884

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

296,905

NET BOOK VALUE

At 31 December 2024

296,905

At 31 December 2023

296,905

The directors have reviewed the carrying value of the investment property and concluded that this has not changed materially since the date of acquisition.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

656

Amounts owed by related parties

-

7,377

Other debtors

64,724

49,571

64,724

57,604

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

235,571

6,605

Amounts owed to group undertakings

1,249,150

1,003,573

Amounts owed to related parties

315

-

Other creditors

1,435

4,917

1,486,471

1,015,095

8.	RELATED PARTY DISCLOSURES

Amounts owed to related parties with common shareholders total £315 (2023: £7,377 debtor).

9.	ULTIMATE PARENT ENTITY

Locogen Aukera JV Limited is registered in Scotland under registration number SC723563. The registered office is C/O Locogen Limited, 4 West Silvermills Lane, Edinburgh, Midlothian, Scotland, EH3 5BD.